Rowan Companies Inc. Bottom Line Falls 92% In Q1

(RTTNews) - Rowan Companies Inc. (RDC) revealed earnings for first quarter that dropped from last year.

The company said its profit totaled $10.3 million, or $0.07 per share. This was lower than $122.8 million, or $0.98 per share, in last year's first quarter.

Analysts had expected the company to earn $0.08 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 25.2% to $374.3 million. This was down from $500.2 million last year.

Rowan Companies Inc. earnings at a glance:

-Earnings (Q1): $10.3 Mln. vs. $122.8 Mln. last year. -Earnings Decline (Y-o-Y): -91.6% -EPS (Q1): $0.07 vs. $0.98 last year. -EPS Decline (Y-o-Y): -92.9% -Analysts Estimate: $0.08 -Revenue (Q1): $374.3 Mln vs. $500.2 Mln last year. -Revenue Change (Y-o-Y): -25.2%